Conductive Polymers Market to Perceive Substantial Growth During 2023
Conductive
polymers are a member of the plastic materials family. They are
lightweight, pliable, and inexpensive plastics that conduct
electricity. They are known to shrink, protrude, and bend when
stimulated by electricity. Conductive polymers are further
categorized into inherently conductive polymers (ICPs), inherently
dissipative polymers (IDPs), conductive plastics, and other
conductive polymers. Conductive polymers find extensive application
in antistatic packaging, capacitors, textiles and fabrics, batteries,
sensors, actuators, solar cells, and organic transistors.
Acrylonitrile -butadiene-styrene (ABS), polyvinyl chloride (PVC),
polycarbonate, polyphenylene-based resins, polyethylene, and
polypropylene together account for approximately three-fourths of all
conductive polymers used. With the help of consistent R&D
activities, scientists have now made a number of polymers conductive
in past years. These include polypyrrole, polyamiline, polythiophene,
and polyacetylene.
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The
increasing demand for high-performance, lightweight, and inexpensive
products is driving the growth and potential of conductive polymers.
Furthermore, their dimensional stability, flexibility, chemical
resistance, and strength have augmented their demand in the global
market. The photovoltaic industry is expected to be a potentially
attractive market for conductive polymers, as they are expected to
serve as an effective alternative to silicon.
Applications
of conductive polymers in the photovoltaic industry include display
materials, chip packaging, sensors, plastic transistors, and
ultra-capacitors. Biomimetics deals with fabricating conductive
polymers to resemble human muscles for the development of
bio-prosthetics, and hence is another potentially attractive segment
for conductive polymers. Conductive polymers are also used in the
production of actuators and sensors, opening a wide spectrum of
applications across different segments. Conductive polymers are also
finding application in the production of light emitting diode based
(LED) backlights and displays. LEDs are popular for their low
operating voltages, and non-expensive production processes.
Conductive polymers are used in backlight displays of cell phones;
and television screens as a thin conducting layer between two
electrodes. This segment is expected to be a potentially lucrative
segment in the conductive polymers market.
North
America is expected to be the strongest conductive polymers market,
accounting for nearly two-thirds of the global demand. Growing
research and development activities related to conductive polymer
technologies by major market players and supported by government
initiatives have proved to be a critical market driver in the North
American region. Europe is expected to be the second largest market
for conductive polymers in terms of regional segmentation. End-user
applications of batteries and sensors in the automobile industry are
expected to drive growth of the conductive polymers market in the
region, as conductive polymers serve as one of the key elements in
the production of both these automotive electrical components.
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The
presence of key market players such as Ormecon Chemie GmbH, Bayer,
etc. is expected to be another key driving factor in Europe. Asia
Pacific is anticipated to witness extensive growth over the next few
years due to increasing demand for conductive polymers in
applications such as textiles, capacitors, batteries, actuators,
sensors, and solar cells. Furthermore, the presence of growing
economies such as China and India is expected to further augment the
market, on account of the expanding industrial base in the region.
Latin America is expected to witness steady growth in the conductive
polymers market on account of demand from end-user industries in the
region. The Middle East and Africa (MEA) is anticipated to grow along
similar lines, especially in growing economies like South Africa and
the GCC countries.
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